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. joining us now are david faber, bob pisani and steven guilfoyle and rick santelli at the cme. first, david, who broke the story this morning, i guess this deal had to happen based on where the competitive landscape sits, and it's likely not going to be the last deal that we've been talking about. >> we've been thinking about and hearing about and talking about deals for quite some time but much of that did not happen as a result of regulators. the nyc has been looking for quite some time to figure out the future. its ceo having engaged with and having a deal with deutsche boerse sometime back, two years ago, in heated discussions and announced it in 2011. a year later it was dead? why, because of the derivatives business in europe that european regulators did not want to see get together for both of those companies. couldn't get around t.nasdaq as well, along with i.c.e. at the time, had made a hostile bid, you may recall, from the new york stock exchange, but that was stopped as well because it wasn't going to happen as a result of antitrust here in the u.s., a americaning of the two equi
a deal. it's all coming up. stay tuned. well, if it isn't mr. margin. mr. margin? don't be modest, bob. you found a better way to pack a bowling ball. that was ups. and who called ups? you did, bob. i just asked a question. it takes a long time to pack a bowling ball. the last guy pitched more ball packers. but you... you consulted ups. you found a better way. that's logistics. that's margin. find out what else ups knows. i'll do that. you're on a roll. that's funny. i wasn't being funny, bob. i know. >>> welcome back. intercontinental exchange and nyse are lower today at news of their $8 million merger. >> you get it, cold as ice? >> bob gets it. >> we never hesitate to play an old rock song from the '70s. i.c.e. is down 2.7%. i'll tell you why this is important. because you get a multiple of ice for your nyse shares, .17 shares of i.c.e., plus a tax component. as i.c.e. goes down, the money the nyse shareholders will get goes down. i.c.e. does not pay a dividend, but the nyse does. i.c.e. did commit to paying a dividend yesterday, $3 must know million is what they committed. that's v
done by the crc. >> so, bob, you say critics like aaa want to kill e-15 because of ethanol? what is your argument? why would they want to kill e-15? >> well, look, there's no evidence to suggest that there are any problems associated with e-15. e-15 has been the most tested fuel in the history of the environmental protection agency. in fact, there were 86 cars tested over three years. the miles driven by those cars are the equivalent of six round trips to the moon. you could not have tested e-15 any more. and the only problems that were found is a couple of deer were killed on the test track. >> okay. let me ask you this, according to aaa -- bob, i want you to tell you whether you believe this to be true or not. according to aa, bmw, chrysler, toyota, nissan do not cover damage under warranty. hyundai, kia, volvo have said e-15 might void their warranties. do you dispute that? >> ford and general motors have warrantied e-15 for 2013 vehicles and on, which is the first year they were able to provide warranty coverage because prior to that the epa did not allow e-15 be sold. prior
of jpmorgan and our own bob pisani. gentlemen, thanks for joining us. rich, what do you think about fundamentals going into 2013, corporate sector, economics? >> i'm actually quite bullish about 2013. i think we're going to start getting, as the year goes on, easier comparisons for corporate profits. the corporate sector as we know is loaded for cash. i think when we get beyond this uncertainty and corporations have more certainty, i think we're going to see an m & a wave because they have underinvestmented for the future by hoarding all the cash so i think they will have to buy growth so i think 2013 could be a very good career. >> what do you think, joe? >> i agree. everything we've been dealing with the past year has been the uncertainty. is it europe, the election? is it the fiscal cliff, but as you go through those one by one, the election is now behind us. i do believe we'll have a resolution on the fiscal cliff and if you look at europe, the ecb put a gigantic band-aid on this so next year will be a big year. >> did you see the s&p upgraded greece today by six notches? i had
in an hour for the closing bell. thanks so much. >> thanks, bob. speaking of the market shortened session one more hour. let's head over to maria at post 9. >> thanks, carl. hi everybody. welcome to the closing bell. i'm maria bartiroma at the new york stock exchange. no, your watch is not wrong. the closing bell ringing three hours early today at 1:00 eastern for christmas eve. hi, bill. >> hey, maria. i'm bill griffith here at cnbc world headquarters. a down day not terrible, light volume as you might imagine on this half day. the dow down about 40 points right now. 46-point decline at 13,144. all the other major averages lower as well. the nasdaq at this hour down about ten points at 3,011 and the s&p 500 down 4.25. >> certainly volume on the light side today. though we're facing light volume there is still money to be made in these markets. remember after the closing bell rings in less than an hour there are only four trading days left in 2012. amazing. >> we know what happens after that right? >> let me ask you bill. i know you've always thought a deal would happen in the 11th hour. seri
to explain about that. plus, we have bob from jones day who specializes in wall street deal making. jeff, it is ammo on wall street to do things behind closed doors. you don't want word to get out on the negotiations. it gets too messy. >> right. i wouldn't advocate for a lot of people to do what wall street does. one thing you can say is they've helped facilitate thousands of mna deals this year. they've figured something out with these transactions. the deals that are most successful have the better chance of success are the ones that you negotiate behind closed doors, not the ones that turn into hostile battles and spill out into public, which is what we're seeing noup. >> i understand that, but at the same time, what wh are we going to have a deal already? people are so frustrated by this. we've had 13 months to think about. now we're down to 26 days. bob, can you really make a deal on the fiscal cliff when the negotiation is out in public? do you think we'll get a deal done? that's what everybody wants to know. >> if everybody thinks we ought to get to a deal, we'll get to a deal. t
, the fed meeting. what are the proceed right now? >> we've got bob from s&p capital iq. steven wood and gordon shallop. great to have you all on the show. you normally get the priority of speaking first. what are you doing right now? >> right now we're anticipating for volatility. we knew it was going to be a volatile fourth quarter. there's a lot of policy induced volatility. that said, the economy in the united states has not changed that much. it's grinding along. that recovery we've been talking about for a long time. so it's measurably positive, not robustly positive. that's kind of doing battle with just about offsetting some of the policy risk. >> the fear is all that changes if we go over the cliff. >> it would. right now the forecast is there's some compromise. there's a short-term compromise. they buy time. and they use that to get the silhouette of a grand bargain. if they use the time well, the markets could like that. if we do go off the cliff, that's 8% of gdp. >> what's your expectation, bob? >> we put out a research saying the fiscal cliff was going to consume invest
with our own bob pisani. >> you're looking to the market right now based on the next 12 months. at about $109. we should be trading at around 1740. if we were at the median p.e. of 16 -- >> 1740 on the s&p? >> 1740 would be a 16-forward multiple which is the median since as far back as capital iq has had forward estimatinged earnings. >> right now you're on 1426 on the standard & poor's. let me get your take on this. i recognize there are a lot of ways to look at things. but there's also a technical way to look at something. and that is if a stock is undervalued, maybe it's cheap for a reason. and maybe it will get cheaper. so why do you think that we're supposed to go back to the way history has shown us, when in fact sometimes the stock is cheap for a reason and only gets worse. >> that's what's causing a lot of investors to sit on their hands saying i'm not buying into is the. our forecast is for a 10% advance which is basically what history says we should be experiencing based on where we are now in this low inflationary environment combined with trailing gap earnings going back to t
on the "closing bell." bob, these projections... they're... optimistic. productivity up, costs down, time to market reduced... those are good things. upstairs, they will see fantasy. not fantasy... logistics. ups came in, analyzed our supply chain, inventory systems... ups? ups. not fantasy? who would have thought? i did. we did, bob. we did. got it. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. just a few minutes before we close out session, the volatility index is up better that be 10%. take a look. what does this tell you in the investor we bring into the conversation right now michael pento along with brian beleskey from bmo capital market. thanks so much for joining us. michael, what's your take on this volatility index? >> it's been a lousy investment. you can't buy volatility, you have to buy the vxx and like t
, everybody, the best thing to watch this month, and bob pisani pointed this out. the transportation stocks have been very strong. china has been strong. mandy, you know, japan has been strong, and the banks have been strong. to me there's an underlying strength to the market when some of the bodyguards have been doing well so i think the market wants to do better. that having been said the fiscal cliff will turn out to be not a maxi deal but a mini deal and will clip the economy not by 1% but a 2% and a 60% chance something will get done but that's where we come out on it right now. a little bit harder hit to the economy. >> don't adjust your sets, everybody. this is what bob sounds like today. >> this is a different exchange here. >> not doing your imitation of david? >> what do you think that the seasonal factors are a major reason why the markets are holding up so well? if you look at the havens, gold, treasuries, for example, the dollar, there's no sign of panic in the haven. >> silver is down. you've seen a little bit of a lift in the vix, closer to 20. that's not bad, a normalization
kind of deal, but as bob pisani's been saying, i'm wonder if it's a bite rumor and sell the fact situation. >> more negative now than when i came down here. >> that's not very encouraging. where's the hope "closing bell" is next. >> a government fractured, a market paralyze. a call to action our markets careen towards the sharp edge of the fiscal cliff. we've is asked our politicians to seem compromise and find a solution. the clock is ticking down. the stakes are getting higher. now we're turning up the pressure. this is a cnbc special report, "mission critical, rise above d.c." >> and we do welcome you to "closing bell." i'm bill griffith here at the new york stock exchange. hey, maria. >> hey there, bill. big rally where you are. i'm bartiromo coming today from the white house for our special coverage. stocks rallying on the on the missile that perhaps we are nearing a fiscal cliff deal. coming up we'll, find out from key lawmakers in the fiscal cliff negotiations how we can actually get a deal done before the deadline. representative chris van hollen, lynn jenkins and javier
, and one final thought, i'd like the idea that lamar alexander and senator corker. >> bob coaching, right. >> the $1 trillion debt ceiling raised for $1 trillion of spending cuts, i think that's pretty good. i know we've heard it before. senator corker talked on the santelli exchange with me a week ago about it, but everyone is thinking about the debt ceiling, and i think that's where the meat is going to be, and the next three charts that we're showing are from august 5th of 2011 when s&p took away our aaa rating, and no matter how people remember it, the markets certainly didn't remember it at all. it didn't slow down the rally in the dollar, the stocks or any of the trade in the fixed income markets with yields dropping. >> we were talking about that issue on "street signs," rick. talking about andy brenner. the markets after a quick knee neck reaction kind of shrugged it off, right? >> i don't even remember. that's why i put it up. i heard andrew. i don't even remember a quick reaction the other way. it was totally ignored, and in some ways in stocks it was actually off to the markets
Search Results 0 to 11 of about 12